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Sao Vang Rubber Q2 profit climbs 41.6% YOY

Sao Vang Rubber JSC said its normalized net income for the second quarter was 770.86 dong per share, a gain of 41.6% from 544.38 dong per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.63 billion dong, a gain of 41.6% from 15.28 billion dong in the prior-year period.

The normalized profit margin climbed to 8.0% from 5.7% in the year-earlier period.

Total revenue came to 270.32 billion dong, compared with 268.70 billion dong in the prior-year period, and total operating expenses declined year over year to 232.92 billion dong from 240.70 billion dong.

Reported net income grew 42.5% on an annual basis to 27.00 billion dong, or 962.04 dong per share, from 18.95 billion dong, or 675.28 dong per share.

As of July 21, US$1 was equivalent to 21,817.50 dong.